Greek Diana Shipping's Q1 2026 Net Profit Surges to $29.1 Million

en.Wedoany.com Reported - Greek dry bulk shipowner Diana Shipping reported a net profit of $29.1 million for the first quarter ended March 31, 2026, a significant increase from $3 million in the same period of 2025.

Net profit attributable to common stockholders rose to $27.7 million ($0.25 basic and diluted earnings per share) from $1.6 million ($0.01 basic and diluted earnings per share) in the first quarter of 2025. During the same period, time charter revenue slightly decreased to $54.7 million from $54.9 million a year earlier.

Diana Shipping attributed the slight decline in revenue to fewer ownership days following the sale of a vessel, partially offset by higher average charter rates and improved fleet utilization. Fleet utilization increased to 99.9% from 99.6% in the prior year.

The company's average number of vessels in its fleet decreased from 37.8 to 36, while daily vessel operating expenses rose to $6,009 from $5,866 in the first quarter of 2025. Despite the smaller fleet size, the daily time charter equivalent rate improved to $16,035 from $15,739, boosting overall earnings.

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